(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street was higher on Wednesday as investors assessed earning ahead of a statement from the U.S. Federal Reserve that could give clues regarding the timing of a rate hike.
The Dow Jones industrial average was up 0.66 percent at 17,745.88, the S&P 500 was up 0.58 percent at 2,105.44 and the Nasdaq Composite was up 0.28 percent at 5,103.392.
** CYTEC, $73.89, +26.55 pct
Belgian chemical group Solvay has agreed to buy U.S. peer Cytec for $5.5 billion, giving it a bigger presence in the lightweight materials business where demand from the aerospace industry is booming.Jefferies raises price target
** YELP INC, $24.2, -27.78 pct
The operator of consumer review website reported a surprise loss and forecast revenue for the current quarter that fell far below market expectations. The company also reported its slowest revenue growth in 18 quarters in the three months ended June 30, and said Chairman Max Levchin would step down “to pursue other interests.” At least 15 brokerages cut price target
** BIG 5 SPORTING GOODS CORP, $11.52, -22.63 pct
The sporting goods retailer reported lower-than-expected sales for the second quarter on Tuesday due to weak sales in its drought-hit core California markets.
** TWITTER INC, $31.54, -13.68 pct
The microblogging company said its number of monthly average users grew at the slowest pace since it went public in 2013.
** NATURAL HEALTH TRENDS CORP, $34.8, +40.78 pct
The direct-selling and e-commerce company’s revenue for the second quarter more than doubles to $69.7 mln, helped by strong demand in Hong Kong, its biggest business.
** SOLAZYME INC, $3.1, +16.98 pct
The company which makes renewable oils and bioproducts would supply diesel to United Parcel Service Inc.
** BUFFALO WILD WINGS INC, $194.44, +13.52 pct
The restaurant operator posted a better-than-expected rise in same-store sales in the second quarter. At least four brokerages raise price target
** EURONET WORLDWIDE INC, $68.8998, +6.21 pct
The payment processor reported better-than-expected profit for the second quarter as more people transferred money using its network.
** NUVASIVE INC, $54.7, +8.38 pct
At least four brokerages raise price target after the medical device maker posted better-than-expected quarterly profit and raises its full-year profit forecast.
** PANERA BREAD CO, $206.67, +10.52 pct
The bakery cafe operator said same-store sales at company-operated restaurants accelerated in current quarter, rising 4.7 percent in the first 27 days of the third quarter.
** BUILDERS FIRSTSOURCE INC, $13.7, +6.20 pct
The building products supplier priced a 12 million share stock offering at $12.80 per share, up from initial 11 million share filing, according to IFR. Company plans to use the proceeds, along with the proceeds from a Notes offering, to fund the acquisition of ProBuild Holdings LLC, announced in mid-April
** GILEAD SCIENCES INC, $117.65, +4.05 pct
The drugmaker said on Tuesday sales of its hepatitis C drugs hit a record of nearly $5 billion, surpassing Wall Street estimates as strong demand offset pricing pressures and restrictions on patient use from U.S. health insurers.
** CALIX INC, $8.48, +21.14 pct
The network gear maker reported adjusted profit of 6 cents per share for the second quarter, as gross margins improve. Wall Street was expecting loss of 3 cents per share.
** YRC WORLDWIDE INC, $14.95, +14.30 pct
Raymond James raises rating to “strong buy”, according to Theflyonthewall.com.
** GLAXOSMITHKLINE, $42.95, +2.97 pct
The drugmaker moved to reclaim its prowess as a research powerhouse on Wednesday by flagging up dozens of new drugs and vaccines in development, as demand for new HIV medicines helped it beat quarterly profit forecasts.
** AKAMAI TECHNOLOGIES INC, $69.12, -6.15 pct
The online content distributor forecast third-quarter revenue and profit below estimates, citing a stronger dollar.
** CARTER’S INC, $102.42, -5.07 pct
Children’s apparel maker forecasts adjusted profit per share for the third quarter to grow 10-15 pct from a year earlier, lower than analysts’ average estimate of 16.5 pct growth, according to Thomson Reuters I/B/E/S.
** GENERAL DYNAMICS CORP, $151.14, +4.75 pct
The maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues, and sharply raised its outlook for full-year profit.
** NORTHROP GRUMMAN CORP, $174.26, +6.69 pct
The maker of global hawk drones reported higher-than-expected quarterly earnings and raised its guidance for earnings in the full year, despite flat or lower revenues in each of its four business sectors.
** SPIRIT AEROSYSTEMS HOLDINGS INC, $54.27, +2.65 pct
The aircraft parts maker reported an 8.4 percent rise in quarterly profit as costs fell.
** THOMSON REUTERS CORP, $39.35, +4.49 pct
The news and information company reported a higher-than-expected quarterly profit even as its biggest division that serves banks and financial institutions showed underlying growth for the first time since 2011.
** MASTERCARD INC, $95.17, +0.01 pct
The credit and debit card issuer reported lower-than-expected quarterly revenue as the company offered more rebates and incentives to win new and renewed deals.
** GALENA BIOPHARMA INC, $1.705, +5.90 pct
The drugmaker launches a treatment, which is a soluble film that dissolves under tongue, for chemotherapy-induced nausea and vomiting.
** ATMEL CORP, $8.115, -5.09 pct
The chipmaker’s revenue and adjusted profit for the second quarter misses estimates, hurt by declines in older memory products.
** GOODYEAR TIRE & RUBBER CO, $30.35, +2.81 pct
The largest U.S. tire maker by sales reported a better-than-expected quarterly profit, helped by higher demand in North America and lower costs.
** MICROSOFT CORP, $46.18, +1.85 pct
The company launched its much-awaited Windows 10 operating system at midnight on Wednesday.
** HILTON WORLDWIDE HOLDINGS INC, $27.61, +4.23 pct
The hotel chain operator raised its full-year profit forecast as improvement in the U.S. economy boosts occupancy and room rates. (Compiled by Rosmi Shaji in Bengaluru; Edited by Don Sebastian)